Farmcrowdy CEO Mr. Onyeka Akumah visits with GreenTec in Frankfurt

on 09 June 2017

Frankfurt am Main (Germany), June 2017. Last month, Farmcrowdy’s CEO Onyeka Akumah came to Frankfurt, Germany to attend the 3rd German – African Agriculture Forum on May 22nd, 2017 with GreenTec’s Erick Yong and Nils Hafa. 

Onyeka, Nils, and Erick at GAAFThe Germany – Africa Agriculture Forum was organized by the German–African Business Association (Afrika-Verein der deutschen Wirtschaft) and hosted at the Frankfurt School of Finance and Management. This years’ forum was titled: “Opportunities and Challenges along the Value Chain: Tailor-Made, Sustainable and Smart Solutions” highlighting  the German – African Business Association’s recognition of the importance of agriculture to the economies of Africa, a view that GreenTec shares. Approximately one third of the region’s GDP is generated by Agriculture, representing the economic activity of three quarters of Sub-Saharan Africa’s population.

The forum brought together German and African political leaders, business leaders, and entrepreneurs to discuss approaches, innovative solutions, and business opportunities. Mr. Akumah participated in the “Next Generation Agriculture: Smart and Innovative Solutions” panel, presenting how Farmcrowdy’s unique solution increases food production and smallholder farmer financing options with their digital platform. This was the ideal forum to present Farmcrowdy’s innovative approach to connecting farmers with sponsors in Nigeria’s agricultural economy. Mr. Akumah speaking at the GAAF

Peter Grouev and Onyeka Akumah

Describing the forum, Mr. Akumah said, “The 3rd German-African agribusiness forum was a platform to gather stakeholders in the sector and appreciate Germany's contribution to agriculture in Africa. Agriculture is fast becoming a major player in the African labour market because it currently employs a large chunk of the population and contributes to the economic growth of African countries. 

The gathering re-affirmed the factors responsible for creating successful agribusinesses in Nigeria, identified challenges that could hamper success and also proffered possible solutions to the challenges identified. 

Using the acquired information, we at Farmcrowdy hope to build a mutually beneficial relationship with the German-African agricultural forum through Greentec Capital partners. We are hopeful that in the end, like Thomas Jefferson said, Agriculture will contribute most to real wealth, thus helping us achieve our goal of ending poverty in Africa through farming.

While in Frankfurt, Mr. Akumah was also invited to attend the Frankfurt Fintech Africa & Digital Sustainable Finance Roundtable with GreenTec’s Peter Grouev. The roundtable was brought together earlier this year by Frankfurt Main Finance’s Jochen Biedermann, representing members of the Frankfurt finance community interested in fintech and sustainable finance in Africa with GreenTec as one of the founding members. Farmcrowdy’s approach to expanding financial access for rural farmers generated great interest and prolonged discussions among the group’s participants. 

Mr. Akumah also had the opportunity to attend the launch of the "Accelerating Sustainable Finance Initiative" at the Deutsche Börse with Mr. Hafa and Mr. Yong. The event included the signing of the “Frankfurt Declaration,” a joint commitment by the German finance community to work within their businesses to develop sustainable financial infrastructures. You can read more for 

As a part of Onyeka’s trip, GreenTec arranged for several additional meetings with potential investors for Farmcrowdy, as well as a visit to the Tech Quartier, a focal access point for the startup and fintech community in Frankfurt.

Mr. Akumah described his trip as very productive and enlightening, providing both excellent networking opportunities as well as a good overview of the Frankfurt startup scene.